Electric
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Chrysler's race to turn its debts into equity took a major turn for the better today, with an offer from a group of banks and hedge funds that hold almost $7 billion in debt. The group is proposing to exchange around $2.5 billion of Chrysler's debt, but only in exchange for close to 40% of the company. There is also a stipulation that Fiat must invest at least $1 billion in cash in Chrysler, as well as one seat given to the group on the company's board. The offer from the banks is a far cry from what the Treasury Department requested just last week, which was a debt reduction of around $6...
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3 Chrysler plants under consideration for Fiat re-tooling
Negotiations between Chrysler and Fiat regarding an alliance have now turned to production capabilities, and an anonymous source has revealed that three Chrysler plants are under consideration for possible re-tooling, at which point they will build Fiat vehicles, as well as Chrysler-badged vehicles...
Ralph Hanson -
Arizona joins growing list of states for Renault-Nissan EV pilot program
Nissan's electric vehicle (EV) involvement in Project Better Place programs in Denmark and Israel, plus test fleets in its home market of Japan will be joined by a new agreement with the state of Arizona. The deal will have cars hitting the streets of Phoenix late next year, and will see...
James Martinez -
Tesla roadster goes 241 miles on a single charge - while rallying
One of the biggest criticisms of electric vehicles is the limited driving range they offer when compared with conventional diesel and petrol powered cars. However, the belief that driving an electric vehicle will leave you stranded after a couple dozen miles is starting to lose credibility, fast...
James Martinez -
EV Innovations preps Wave EV for $7.5 million X Prize
Picture it: 200mi on a single charge, 80mph top speed and a purchase price of just $30,000 - not a recipe for success for a standard combustion engine car, but a very reasonable proposition for a mass-market electric car. And that's exactly what EV Innovations is proposing with its Wave electric...
Nelson Ireson -
Mitsubishi confirms i-MiEV for U.S.
Already angling for sales in excess of 20,000 units annually, Mitsubishi took the opportunity of the New York Auto Show to announce it will be selling the i-MiEV electric car in the U.S. and other global markets. The car is already in testing in California, Oregon, Tucson and elsewhere, but the...
Ralph Hanson -
At the end of March the President's task force on the industry put a 30-day window on Chrysler and Fiat reaching an alliance agreement. Just hours later Chrysler announced the two companies had signed off on the deal. That turned out to be premature, but the deal is still being developed, with new details of how it will be structured emerging today. A series of benchmark targets for Fiat and Chrysler cooperation would gradually increase Fiat's stake in Chrysler, allowing it to grow the initial 20% stake that has been previously confirmed as the starting point of a Chrysler-Fiat alliance...
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Mitsubishi shooting for 20,000 iMiEV electrics per year by 2011
The industry is in pain, but it's still planning for the future. Today that's clear nowhere more so than at Mitsubishi, which has just announced it will be upping its production target of the iMiEV to 20,000 units annually by 2012 up 200% on previous goals of 10,000 per year. Output targets for...
Nelson Ireson -
Fisker announces first 32 'Eco-facility' dealers for Karma plug-in
The roll-out of Fisker’s new Karma plug-in hybrid luxury saloon is going smoothly, with the company announcing that they have already signed up 32 dealers in the U.S. and should have a total of 40 onboard by the end of June. There are already 1,300 pre-orders for the car, which starts at a...
Jeremy Weber -
U.S. consumers may be able to buy Nissan EVs by next year
It's not often that major automakers push production dates ahead in time rather than back, especially with the current economic conditions, but Nissan might be doing just that with its electric vehicle program. While earlier Nissan was claiming that its first mass-produced electric vehicle would...
Ralph Hanson -
Nissan to show off new-generation zero-emissions vehicle in San Diego
As the traditional car industry struggles against a lack of consumer credit, economic instability and its own growing pains, several of the major players are forging ahead with next-generation vehicle programs, including all-electric zero emissions vehicles (ZEVs). Nissan has been at the forefront...
Ralph Hanson -
Jeep’s future will likely include compact Fiat Panda Cross
Following the announcement of the proposed alliance between Fiat and Chrysler in January, the question on everybody’s lips was which European top-sellers were finally going to come to North America. Stylish compact cars like the Fiat 500 and Bravo were suddenly a very real possibility for...
Ralph Hanson -
Calling the U.S. federal government's expenditures under the end of President Bush's tenure and the beginning of President Obama's a 'spending spree' is to beggar the term understatement. But in many instances, there hasn't been a valid alternative aside from letting parts of the economy wither and die. The latest round of funding - $2.4 billion for electric vehicles - announced yesterday promises to help the U.S. reach Obama's goal of 1 million plug-in electrics on the road by 2015. Electric vehicles have been around as long as the automobile, but due to the abundance of cheap and readily...
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Tesla reveals pricing for Model S, announces sale of 250th Roadster
Tesla's first all-original car, the upcoming Model S plug-in hybrid sedan, is due to be unveiled to the public in just a week’s time but the company has already released a couple of teaser shots - one showing the undercarriage and another showing the new glasshouse. In the lead up to the...
Ralph Hanson -
Tazzari Zero EV headed to U.S. early next year
The Zero EV was originally designed by Britain’s NICE car company, the maker of the MyCar, Ze-O and the Mega City, but from the start its gestation has been handled by design teams in Italy. The goal for the Zero EV was to create a “high performance” micro-EV with a little Italian...
Nelson Ireson -
Ecotricity's electric sports car nearing production
Environmentally friendly electrical utilities company Ecotricity has been selling green electricity for over a decade, but its founder Dale Vince has decided to take on a more ambitious project: to build a good looking, "wind-powered" electric sports car. Currently, Vince is working with a team of...
Ralph Hanson -
U.S. Volkswagen CEO: EVs won't be viable for 35 years
If the futurism of the 1950s and 1960s taught us anything as a culture, it's that what seems a sure thing today may prove laughably optimistic in a few decades. Stefan Jacoby, CEO of Volkswagen Group of America, thinks a similar situation is playing out with electric cars today. Jacoby's main...
Nelson Ireson -
Fiat and PSA Peugeot-Citroen deny merger rumors
Fiat Group, Chrysler and its parent company Cerberus Capital Management in January released a joint statement announcing they had signed a non-binding term sheet to establish a global strategic alliance. The alliance, a key element of Chrysler’s viability plan, would provide the American...
Kenneth Hall -
Think Global is a Norwegian manufacturer of electric vehicles and is the same company behind the original ‘Th!nk’ electric car that went on sale in the U.S. during the late 1990s. Back then, Think was owned by Ford, which sold it in 2003 to Swiss company Kamkorp Microelectronics. In 2006 Think went bankrupt and was subsequently rescued by a group of Norwegian investors determined to build the firm into a proper carmaker with a number of all-electric models. The rejuvenated company showed some promise in recent years, revealing a number of new concept vehicles and delivering...
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Toyota revises Prius mpg rating to 51 city, 48 highway and 50 combined
After months of conjecture and Toyota’s own claims for the fuel-economy of its new Prius, came the release last week of “preliminary” Environmental Protection Agency (EPA) ratings for the new model. In their haste, the EPA and Toyota had made a slight error in those original...
Viknesh Vijayenthiran -
Nissan announces new EV program in Tucson, Arizona
ECOtality has partnered with Nissan and the Pima Association of Governments to bring a new zero-emissions initiative to the Tucson, Arizona region. By pairing prototype EVs and a new charging network, Nissan hopes to further expand its development of practical research into widespread use of...
Ralph Hanson -
Pininfarina updates B0 Concept as Bluecar EV, more production details
Pininfarina gave up contract manufacturing last year to focus solely on building electric vehicles (EVs). At the Geneva Motor Show this week, the company has reworked their B0 Concept into a more palatably-named BLUECAR EV, with more details on its expected production plans. The B0/Bluecar EV was...
Kenneth Hall -
Mulally: electric vehicles are our future
The times, they are a changin'. Carmakers that had seemed bulletproof, or at least too big to fail, are teetering on the brink of insolvency. Government regulations and stipulations on loan money are cinching down emissions and efficiency requirements. And tax incentives are spurring development of...
Ralph Hanson -
Fed loans could see low-cost Fisker hybrid in roughly two years
Fisker Automotive is less than a year away from launching its new Karma plug-in hybrid luxury saloon, arguably one of the most stylish looking cars on the auto show circuit, not to mention one of the cleanest too. While big name carmakers like General Motors and Toyota struggle to launch...
James Martinez